Daytona International Speedway will overhaul its frontstretch grandstands and bulldoze its backstretch stands as part of a $400 million renovation project that will reduce seating capacity from 147,000 to 101,000.

The project, announced Tuesday, moves forward without a planned fan midway renovation that was dropped from initial proposals because of an unsuccessful attempt to get public dollars.

Despite the lack of public funding, DIS President Joie Chitwood pledged that the cost would not be passed on to fans despite the appearance that the track is making tickets to the Daytona 500 much tougher to get.

The elimination of the 46,000-seat backstretch grandstands also eliminates the majority of tickets that were under $100 for the Daytona 500.

“We’ve got to readjust our pricing mix so that we have affordable seats on the frontstretch, and we’re committed to doing that,” Chitwood said Tuesday. “We’re committed to making sure that our fans can continue to bring in coolers, their own food and drink, and committed to continuing free parking in our lots.

“Just because we’re going to make this huge investment in our property, we’re not going to transfer that downstream to our fans.”

Chitwood said there will be more opportunities for corporate sponsorship and hospitality with the new grandstands that could generate additional revenue.

“We’re not going to turn around and leverage our ticket prices,” Chitwood said.

“We know our fans need some good entry-level pricing and we will have to re-price the mix. … Decent-priced tickets, the cooler, the parking — those are the things that get people to attend events. We’re not going to go the other way.”

Construction will begin after the Coke Zero 400 in July and continue through January 2016.

Chitwood said the major race weekends will not move from their normal spots on the schedule in 2014 but he could not commit to 2015 dates until sanction agreements and construction schedules are firm.

The new frontstretch grandstand will have more of a stadium feel, with a new façade and escalators to four separate levels of stands.

Every seat on the frontstretch will be replaced and be wider than the current ones and capacity, not including the 53 suites, will decrease to 101,000 with the ability to increase permanent seating to 125,000. The capacity five years ago was 168,000.

Eliminating the backstretch should help keep costs down — the track hasn’t sold backstretch tickets for its Cup race in July for the last few years.

“We can’t offer the same amenities and experiences back there that we can on the frontstretch,” Chitwood said. “By doing that, it will be better for everybody long-term in their experience and enjoying Daytona International Speedway.

“One of the things about the backstretch is you feel disconnected from the venue in terms of the prerace experience and other events that we have.”

There will be no seating changes for the 2014 Daytona 500 but there will be for 2015 as the construction is done in phases.

The project includes more restrooms and concession stands as well as more open space to sit and socialize with others within the grandstand areas.

The project will cost $375-$400 million and comprise the bulk of capital spending for DIS parent company International Speedway Corp.

Owner of 12 tracks where the Sprint Cup Series races, ISC plans to spend up to $600 million for capital improvements at all its tracks through 2017.